Ovintiv Inc. [OVV] Is Currently 6.52 below its 200 Period Moving Avg: What Dose This Mean?

Ovintiv Inc. [NYSE: OVV] gained 6.52% or 1.67 points to close at $27.30 with a heavy trading volume of 4417741 shares. The company report on March 4, 2021 that Ovintiv Appoints Katherine L. Minyard to Board of Directors.

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Ovintiv Inc. (NYSE: OVV) (TSX: OVV) announced that Katherine L. Minyard has been appointed as an independent member of its board of directors, effective immediately.

Minyard, 45, is an Investment Principal and Partner at Cambiar Investors where she focuses on energy, metals and mining, industrials, basic materials and utility equities. Before joining Cambiar, she was an Executive Director on J.P. Morgan’s Equity Research Team covering integrated oil, refining, Canadian oil and U.S. E&P companies. Minyard graduated from Texas A&M University, has an MBA from INSEAD in France, and holds the Chartered Financial Analyst designation.

It opened the trading session at $26.03, the shares rose to $27.89 and dropped to $25.89, the range by which the price of stock traded the whole day. The daily chart for OVV points out that the company has recorded 143.97% gains over the past six months. However, it is still -1200.0% lower than its most recent low trading price.

If we look at the average trading volume of 3.60M shares, OVV reached to a volume of 4417741 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ovintiv Inc. [OVV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OVV shares is $20.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OVV stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Ovintiv Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 11, 2021. The new note on the price target was released on December 16, 2020, representing the official price target for Ovintiv Inc. stock. Previously, the target price had yet another raise to $11, while CIBC analysts kept a Sector Underperform rating on OVV stock.

The Average True Range (ATR) for Ovintiv Inc. is set at 1.35, with the Price to Sales ratio for OVV stock in the period of the last 12 months amounting to 1.15. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 0.04. Price to Free Cash Flow for OVV in the course of the last twelve months was 113.08 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for OVV stock

Ovintiv Inc. [OVV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.74. With this latest performance, OVV shares gained by 62.89% in over the last four-week period, additionally plugging by 143.97% over the last 6 months – not to mention a rise of 157.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OVV stock in for the last two-week period is set at 79.43, with the RSI for the last a single of trading hit 83.04, and the three-weeks RSI is set at 76.74 for Ovintiv Inc. [OVV]. The present Moving Average for the last 50 days of trading for this stock 18.67, while it was recorded at 25.05 for the last single week of trading, and 12.54 for the last 200 days.

Ovintiv Inc. [OVV]: A deeper dive into fundamental analysis

Ovintiv Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Ovintiv Inc. [OVV]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ovintiv Inc. posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -37.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OVV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ovintiv Inc. go to 58.44%.

An analysis of insider ownership at Ovintiv Inc. [OVV]

There are presently around $4,919 million, or 71.30% of OVV stock, in the hands of institutional investors. The top three institutional holders of OVV stocks are: DODGE & COX with ownership of 32,851,897, which is approximately -9.405% of the company’s market cap and around 1.23% of the total institutional ownership; VANGUARD GROUP INC, holding 24,514,940 shares of the stock with an approximate value of $669.26 million in OVV stocks shares; and BLACKROCK INC., currently with $551.57 million in OVV stock with ownership of nearly 7.322% of the company’s market capitalization.

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124 institutional holders increased their position in Ovintiv Inc. [NYSE:OVV] by around 22,114,290 shares. Additionally, 120 investors decreased positions by around 27,192,206 shares, while 57 investors held positions by with 130,879,158 shares. The mentioned changes placed institutional holdings at 180,185,654 shares, according to the latest SEC report filing. OVV stock had 51 new institutional investments in for a total of 7,454,780 shares, while 38 institutional investors sold positions of 2,026,970 shares during the same period.

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